INFOSYS EARLY RENEWAL
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
Ahead of Market: 10 things that will decide stock market action on Tuesday
Indian markets closed lower on Monday, with Nifty extending its losing streak to nine sessions, the longest since 2019. Despite intraday recovery, global trade concerns and declines in Reliance and HDFC Bank weighed on investor sentiment, capping gains.
IT services firms see proactive deal renewals by clients on AI upsurge
This is likely to see a decline of longer-tenured contracts upwards of 5-10 years with a greater number of shorter period and smaller sized deals going forward. It is also in line with top executives calling for the outsourcing model ripe for disruption with a focus on outcome-based projects than just people-led model, experts say.
Sensex gains 400 pts on positive Asian cues, strong economic growth data; Nifty above 22,200
Indian benchmark indices Sensex and Nifty opened higher on Monday, mainly driven by gains in IT and auto stocks. The positive opening followed data showing India's economy expanded by 6.2% in the October-December quarter. Paytm shares fell over 4% after facing a show cause notice from the Enforcement Directorate.
Together’s AI fund; IT deals’ proactive renewals
Happy Monday! Freshworks founder Girish Mathrubootham’s VC firm Together is eyeing the final close of its AI-focussed fund. This and more in today’s ETtech Morning Dispatch.
Ahead of Market: 10 things that will decide stock market action on Friday
The Indian market closed nearly flat on Thursday as easing domestic inflation was offset by U.S. inflation concerns and trade tensions. The Sensex fell 32 points, while Nifty declined 13 points, with investors eyeing global cues and trade developments.
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Sensex slips over 150 points ahead of RBI MPC meeting; Nifty below 23,750
Benchmark equity indices saw modest losses on Wednesday despite gains in HDFC Bank and Infosys. Anxiety among investors ahead of the RBI's monetary policy meeting contributed to the market's cautious stance. Meanwhile, Asian Paints and Reliance Industries experienced notable stock drops, influenced by recent earnings reports.
Sensex jumps nearly 300 points; Nifty above 23K; all eyes on Fed meet outcome
Indian benchmark indices opened higher for the second consecutive session led by IT and financial stocks ahead of the U.S. Federal Reserve's rate decision and the Union Budget. Suzlon Energy and BHEL saw significant gains following impressive quarterly profits. The Nifty IT index also surged over 1.5%.
DMart shares slide 6% post Q3 results. Should you buy, sell or hold?
Avenue Supermarts shares plunged 5.7% after disappointing Q3 results. Revenue grew 17.5% YoY, and profit increased 6.5% YoY, but EBITDA and PAT margins declined. Same-store revenue growth was at 8.3%. Anshul Asawa was appointed CEO Designate with effect from March 2025.
Ahead of Market: 10 things that will decide stock market action on Monday
Indian markets closed lower due to selling in financial, energy sectors, and concerns over rising crude prices and a strong dollar. IT stocks like TCS showed resilience. US and European markets also faced declines due to inflation concerns after strong jobs data. Market sentiment remains bearish, with potential further declines for Nifty.
F&O Talk| Nifty trading trapped in 23,000-25,000 range with bearish long-term outlook: Rahul Ghose of Hedged.in
With the current market scenario, analyst Rahul Ghose, Founder of Hedged.in interacted with ET Markets regarding the outlook on Nifty and Bank Nifty and an index strategy for the upcoming week. Following are the edited excerpts from his chat:
Drop in renewal deals poses revenue challenge for top IT firms
Deal momentum slowed in 2023-24 despite record deals as clients favor new over old deals. Vendor consolidation and slower decision-making ensued, impacting near-term revenues for service providers who must be proactive.
Billionaire Infosys founder Narayana Murthy to double private firm’s investments
Catamaran Ventures LLP, which began operations in 2009, will raise its assets under management to as much as $2 billion and is exploring strategic partnerships in three new areas: deep tech, precision engineering and manufacturing, and renewables, according to Chairman MD Ranganath.
IT largecaps could be ready to break out after a quiet 5 months
Nifty IT Index Well Above Key Moving Averages Infy, TCS, L&T Info & HCL Tech are analysts’ top picks
Infosys turns carbon neutral 30 years ahead of Paris Agreement's 2050 timeline
In 2011, Infosys made a pledge to become carbon neutral by 2020.
Infosys joins Amazon, signs Climate Pledge to become net-zero carbon
The Climate Pledge calls on signatories to be net-zero carbon across their businesses by 2040—a decade ahead of the Paris Accord’s goal of 2050.
Vishal Sikka effect? Infosys' quarterly revenue growth fastest in 3 years at $476 million
Quarterly revenue growth was fastest in more than three years, with Infosys beating rival TCS for the first time in at least two years.
Infosys on track to meet revenue guidance, six fresh deals to add $50 mn to purse: Vishal Sikka
He said the co was in the process of identifying a new global HR head, replacing Srikantan Moorthy who moved to a new role in April.
Infosys net profit down 4.6%; acquires Kallidus for $120 million
For financial year ending March 2016, Infy projected revenue growth in range of 6.2%-8.2% in dollar terms & 10-12% in constant currency.
Infosys and Wipro in fight to renew Rs 12,000 crore outsourcing contract that will expire this year
“A lot of the deals that are coming up are obviously incumbent Infosys or Wipro clients, so it’s their market share to lose,” said Frances Karamouzis.
Infosys Q3 PAT at Rs 3,250 crore, up 5% QoQ; beats street estimates
Infosys announced results during market hours for the first time ever. Derivative analysts remain bullish on the stock.
Infosys stock outperformed NSE IT index since Vishal Sikka joined company as CEO
It is the world’s most scrutinised co, with more than 57 analysts worldwide tracking a company that posted revenue of more than $8.2 bn last fiscal.
We want to be a bellwether again; will get into 18% growth in long term: Vishal Sikka, CEO, Infosys
It is too early to forecast that, but based on the strategy that I have articulated, we should be able to achieve such numbers, said Infosys CEO Vishal Sikka.
Infosys surges on strong Q2 PAT, bonus shares; top Sensex gainer
Infosys reported a consolidated net profit of Rs 3096 crore for the quarter ended September 30, up 7.27 per cent, from Rs 2886 crore in previous quarter.
Vishal Sikka is a professional CEO, confident he will transform Infosys: Narayana Murthy
"Vishal Sikka is a wonderful leader, excited about the future," Murthy told ET Now. "Sikka brings best of both worlds", he added.
Q2 results: Infosys out of the hole, but not out of the woods
Infosys revised its dollar revenue guidance upwards to 9-10% for FY 14. It also revised rupee revenue guidance to 21-22% from 13-17% earlier.
HCL results affirm improving demand for Indian IT
The latest quarter has underlined that HCL Technologies and Tata Consultancy Services continue to be the growth leaders for the industry.
Infosys sticks to FY'12 revenue guidance amid euro debt crisis
Country's second largest software exporter Infosys today retained its guidance of 17-19 per cent revenue growth in FY'12 notwithstanding the persisting eurozone debt crisis.
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